_Posted by: Kaplan Schweser
Updated: January 28, 2021 _
The Global Association of Risk Professionals (GARP) has announced changes to the FRM® Exam in 2021. There are new dates, a new format, and different registration timeframes and fees. Let’s take a closer look at how the FRM Exam is changing.
GARP announced a new date structure for Part I and Part II. Part I will be offered in May, July, and November 2021. Part II will be offered in May and December. Here are the specific dates.
Part I of the FRM exam will be computer-based in May, July, and November and will feature 100 multiple-choice questions. Part II of the FRM exam will be paper-and-pencil-based in May and computer-based in December; both formats will have 80 multiple-choice questions. The duration of both parts of the exams will remain four hours.
The registration timeframes and fees for both parts of the exam have changed, as follows:
Note: There is an additional $400 one-time enrollment fee for the exam.
Part I of the 2021 exam reflects the changes made in 2020. There are 60 readings in the curriculum instead, and GARP SMEs wrote the content in-house. As a result, Learning Objectives have content based on the SME material to increase their effectiveness. The topics and their weights for Part I in 2021 are:
The FRM Part II exam The FRM Part II retains the Liquidity and Treasury Risk section introduced in 2020. The topic weights for Part II are as follows:
There are 101 readings in the 2020 Part II curriculum. (Get tips on how to answer Part II questions on these topics in this article.)
To help candidates understand what has been updated, these four guides are available for download from the GARP website:
For more details on the changes to the FRM Exam and its requirements, read our exam FAQ article.
Because of the changes to the format and dates of Part I and Part II of the FRM exam, it is important to have the most up-to-date study materials. Learn more here.